Which of the Following Would Be an Inappropriate Response to a "Gotcha

question 60

Multiple Choice

Which of the following would be an inappropriate response to a "gotcha" question?

• A)"We're not ready to discuss the matter at this time."
• B)"When more information becomes available we will let you know."
• C)"Our company has no position on that issue."
• D)"I believe the company is planning to venture in that direction."
• E)"We're not prepared to speculate on that issue at this time."

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Definitions:

Consumer's Surplus

The difference between the total amount that consumers are willing and able to pay for a good or service versus the total amount that they actually pay.

Excess Demand

A situation where the quantity demanded of a good exceeds the quantity supplied at the current price.

Compensating Variation

Compensating variation is an economic concept that measures the amount of money one would need to reach their original level of utility after a price change or economic policy impact.

Price Increase

A rise in the cost of a good or service.